All Pensions articles – Page 10
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ArticleExclusive: Coastline Housing to discuss living pensions at Employee Benefits Live 2023
Nathan Mallows, director of finance, people and change at Coastline Housing, will present a session about the living pension on the final day of Employee Benefits Live 2023.Titled Living pensions: are your pension arrangements fair and equitable? the session will take place on Wednesday 4 October at 1.45pm.Part of the ...
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Supplier articlePension Re-Enrolment: A Step-by-Step Guide for Businesses
Pension Re-Enrolment: A Step-by-Step Guide for Businesses Employers must comply with UK law by re-enrolling eligible employees into their automatic enrolment pension scheme. This is an obligation whether employees’ wish to be re-enrolled or not. In this guide, we’ll walk you through adhering to the pension re-enrolment ...
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Supplier articleAuto Enrolment Pension Staging Date: A Guide for Employers
Auto Enrolment Pension Staging Date: A Guide for Employers Whether you’re exploring the possibility of establishing a new auto enrolment pension for your company, or if you’ve already got one in operation pension auto enrolment staging dates might puzzle you. How do you determine your staging date, ...
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Case StudiesBenefits on offer at Precis Digital
Benefits offered by Precis Digital:Pension A group personal pension (GPP) scheme for all employees, with up to 8% matching contributions from the employer.Healthcare and wellbeingA £40 wellness allowance each month, which can be used towards items such as physical exercise, therapy apps and private medical insurance.Employee assistance programme (EAP).Access to ...
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Article27% of under 35s have calculated required retirement income
Just one-quarter (27%) of UK staff aged under 35 have worked out how much they will need to live on in retirement, according to research by Royal London.The mutual life, pensions and investment firm, which surveyed 4,000 UK adults, also found that two-fifths (38%) of adults under the age of ...
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Supplier articleUK Workplace Pension Regulations: What Every Employer Should Know
UK Workplace Pension Regulations: What Every Employer Should KnowIn the dynamic landscape of finance, grasping the nuances of workplace pension regulations might be daunting. Nevertheless, it's crucial to be acquainted with the laws and your obligations, regardless of whether you're a company owner or the accountable person within a business.While ...
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Article46% of savers do not understand key benefits of DC schemes
Almost half (46%) of defined contribution (DC) savers revealed that they do not understand one of the key benefits the scheme brings, according to new research from TPT Retirement Solutions.The workplace pension master trust scheme’s research, which polled around 1,500 DC savers, highlighted that savers are not aware they receive ...
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AnalysisHow to sell pensions change into an organisation
Need to know:Change will happen when it comes to employers’ pensions plans. Whatever the change, some universal principles remain true.Stakeholders should be involved early, to ensure they can voice any objections and feel involved in the process. Avoid legalese; be honest, clear and concise. If it is bad news, upfront ...
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Case StudiesRoadshows were secret to success when Ford moved to pensions master trust
When Ford Motor Company moved to a master trust in April 2022, explaining the changes to people at pensions roadshows was a priority.Oliver Payne, international pensions and data analytics manager at Ford and founder of the Reinventing Pensions event, explains: “The reason for that is you get people’s focused attention. ...
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Article30% of staff prefer CDC pension for decumulation over an annuity or drawdown
Almost one-third (30%) of UK defined contribution (DC) savers said they prefer a collective defined contribution (CDC) pension for a decumulation option at retirement instead of an annuity or drawdown, according to new research.Global professional services firm Aon and financial services provider Aegon’s new whitepaper Collective DC decumulation – is ...
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ArticleSmith and Nephew completes £260m pensions buy-in
Smith and Nephew UK Pension Fund has completed a £260 million buy-in deal.The transaction with Rothesay, which secures the benefits of 1,885 pensioners and dependants, as well as 2,315 deferred members, is the final transaction securing the fund’s objective of insuring all of its members’ benefits. The fund is sponsored ...
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Supplier articleSUPPORTING NEW PARENTS: REGULATIONS & SAVINGS
EMPLOYEE EXPERIENCE SERIES: SUPPORTING NEW PARENTS: REGULATIONS & SAVINGS In our second blog dedicated to supporting parents in the workplace, we cover some statutory regulations supporting working parents. Detailing the costs parents face, we also explore how they can use their employee benefits to save money on ...
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ArticleBT Pension Scheme completes £5 billion pension longevity swap
Telecommunications firm BT’s pension scheme has entered into a longevity reinsurance arrangement with Reinsurance Group of America (RGA), which covers £5 billion of pensioner liabilities.The transaction protects the private sector pension scheme, which has around 270,000 members and £47 billion of assets under management, from the cost of unexpected increases ...
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Supplier articleBoost your bottom line: The hidden value in rethinking workplace pensions
Consider this - are you unwittingly disposing of chunks of your income that you worked hard for? Sounds absurd, doesn't it? But your organisation might be doing just that because the set-up of your workplace pension scheme has kept you blissfully unaware.Pension contributions by employers are great in principle, fostering ...
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ArticleHigh Court rules BBC cannot change pension to cut future benefits
The High Court has ruled that the British Broadcasting Corporation (BBC) cannot modify its £19.8 billion pension to cut future benefits for plan members but can make other changes without employees’ consent.The case explored the treatment of future service benefits under the BBC pension scheme, which provides retirement benefits on ...
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ArticleMitchells and Butlers completes £1.2 billion pension buy-in
Restaurant, pub and bar operator Mitchells and Butlers has completed a £1.2 billion bulk purchase annuity transaction for its pension scheme.Standard Life, which is part of Phoenix Group, began the transaction in May this year. It covered deferred members and pensioners and secured the retirement incomes of around 20,200 scheme ...
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Supplier articleUnlock the Power of Pensions: A Guide to Switching Workplace Pension Provider
Considering a shift in your workplace pension provider? That's a bold step towards ensuring your most expensive employee benefit is truly rewarding.The pension plan you offer should mirror your company's brand. It's an effective means to make your employees feel cherished, and choosing the appropriate workplace plan can significantly enhance ...
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Supplier articleChoosing the best workplace pension for your business
Benefits of choosing the best workplace pensionThe responsibility of setting up or changing your workplace pension scheme can appear like a daunting task, but it's worth considering some of the potential benefits to make the process less intimidating:Staff retention could improve: Proper implementation of your workplace pension can enhance employee ...
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ArticleLondon Underground strikes over pension changes suspended
Several strike dates due to take place on the London Underground have been suspended following negotiations about potential reforms of Transport for London's (TFL) pension scheme.After a week of negotiations with the Advisory, Conciliation and Arbitration Service (Acas) the Aslef Executive Committee and trade union RMT agreed to suspend the ...
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ArticleSmart Pension acquires Evolve Pensions
Workplace pension provider Smart Pension has acquired workplace pension services Evolve Pensions, owner of master trust the Crystal Trust.The aim of the acquisition is to improve experience and provide efficiencies for the Crystal Trust’s employers and members, enabled by cloud-based global technology platform Keystone, which was developed by Smart Pension’s ...